Breaking

China's Chip Exports Jump 111% in May to a Record $36 Billion

June 23, 2026 at 03:21 EDT

Infra & Chips
Policy & Regulation

China's exports of semiconductors (integrated circuits) surged 111% year-over-year in May 2025 to a record $36 billion, the largest annual increase since 2013, driven largely by booming demand from AI data centers.

May 2026 · China Customs (GACC)

China's chip exports hit a record $36B — but the surge is price, not volume

Semiconductor exports jumped 111% year-on-year — the biggest gain in 13 years — driven by soaring AI memory-chip prices. Yet actual shipment volumes rose just 2%, raising questions about how durable the boom really is.

$36B

Semiconductor exports — record high, +111% YoY

~$27B

Computers & parts, +66% YoY

$105.4B

Trade surplus — largest since January

The whole story in one chart: value vs. volume

Same chip exports, two very different YoY numbers — proof the gain came from prices, not more shipments.

+111%

Export VALUE

+2%

Shipment VOLUME

Value nearly doubled while units barely moved — a price-driven surge.

What lit the fuse

AI data-center demand for accelerators

→

DRAM, NAND & HBM supplies tighten

→

Memory prices spike, export $ value soars

Tailwinds

Korea's chip exports to China up 200%+, swinging it to a rare surplus
SMIC, CXMT, Hua Hong posted record 2025 revenue
AI infrastructure investment supporting the economy

Cautions

Price-driven growth without volume — sustainability in doubt
Surging memory prices could feed inflation
Overproduction, inventory risk and US–China tension

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